0839 GMT [Dow Jones] The USD/MYR is lower at 3.1320 vs 3.1530 late
Monday in Asia, tracking the greenback's weakness against most Asian
currencies, while exporters sell dollars to settle their month-end
accounts, a trader at a local bank says. Still, the pair is unlikely
to fall sharply as players adopt a cautious approach ahead of a string
of central bank meetings later this week, he says. Near-term support
is tipped at 3.1250. The pair has risen 1.2% in July and is headed for
choppy trade in August amid ongoing concerns over the European debt
problem, while trading volumes may shrink in the run up to Eid
holidays, another currency trader at a major local bank says.
(shie-lynn.lim@dowjones.com)
Contact us in Singapore. 65 64154 140; MarketTalk@dowjones.com
(END) Dow Jones Newswires
July 31, 2012 04:39 ET (08:39 GMT)
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